Former Cleartrip executive launches Quick-Commerce retail venture

Ayyappan R, the former chief executive of Flipkart-owned Cleartrip, is all set to launch a new quick-commerce retail venture in India. Currently, as per sources, the venture is seeking substantial seed funding from venture capital firms Accel and RTP Global.

The new venture will focus on delivering a curated selection of premium products within 20 to 30 minutes and will also include an offline retail presence. This dual approach necessitates larger seed funding. The venture will span several retail categories including FMCG, health and fitness, and fashion, offering both international and local brands. It aims to offer a range of products from unbranded items like dry fruits and local products such as freshly ground atta (flour) to premium goods like blueberries and avocados. It will also include direct-to-consumer (D2C) products like organic Supima cotton t-shirts and healthy gummies.

Additionally, the venture will operate on a subscription model, providing platform access exclusively to members or offering better pricing.

Though the name hasn’t been finalized, it is being positioned as ‘Costco for India’, however registered as FirstClub. The initial model will concentrate on quick commerce for premium goods with plans for future iterations.

“They are starting with the quick commerce for premium goods and the model will see iteration from there,” a source familiar with the model stated.

This venture comes at a time when quick delivery services are on a rise and major industry players such as Zepto, Blinkit, and Instamart are expanding rapidly. Even Walmart-owned Flipkart entered the quick-commerce space with its service ‘Minutes’ just a few weeks back.